Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-19)

The pressure on the upper gear still exists and the kinetic energy is amplified
1. Market Trends <br/>Today is June 19, 2017. The current price of Bitcoin is 18,939 yuan. After yesterday's opening, the price of the currency fell into a downward trend after a short period of consolidation, and the lowest point of the day reached 18,550. After that, although the center of gravity of the currency price continued to move upward, the bulls were still unable to resolve the upper pressure and launched a new round of market.
Looking at the daily chart, the bullish arrangement of the moving average system (5, 10, 20) was destroyed. When the price of the currency fell, it was supported by MA20 and stabilized and rebounded. The MACD indicator is still extending southward in the strong area, and the stochastic indicator and the strength index have limited northward extension after the top divergence, indicating that the rebound strength of the currency price at this level is weak.
Looking at the 4-hour chart, the price of the currency at this level is obviously suppressed by MA60, and the bulls have tried to break through this pressure line many times but all failed. At present, the price of the currency is fluctuating in a narrow sideways range, the volume is gradually shrinking, and the MACD indicator has broken through the zero axis from bottom to top. If the price of the currency breaks through the previous high pressure level (19,500 yuan) with the increase of volume, the market outlook is still bullish.
Overall, the rebound of the coin price is temporarily suppressed by the supply of shorts, and the pace of climbing has slowed down. However, the short side did not further suppress the market, and the long and short sides temporarily maintained a state of parity until the coin price fell into a narrow range of fluctuations. For long-term investors, they can lock in part of the profit, while short-term investors should not participate in heavy positions and wait until the trend becomes clear before operating.
2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by Coinzone based on statistics from domestic and foreign Bitcoin trading platforms. The purpose of the indicator is to analyze the distribution of long and short forces in the current market in order to better analyze and judge price trends.